The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification exempting 10 lakh metric tonnes of raw sugar from customs duty. This exemption applies to imports under the Tariff Rate Quota (TRQ) Scheme and is valid until October 31, 2026. The raw sugar falls under tariff heading 1701.
This exemption could significantly impact importers dealing with raw sugar, as it reduces the cost of importing this commodity under the TRQ scheme. Importers need to ensure their shipments fall under the specified tariff heading to benefit from this duty exemption. The timing of imports is crucial, as the exemption is only valid until the end of October 2026.
1) Open the official notice here.
2) Check whether your CTH, documents or policy line is touched.
3) Ask Neo's CHA before changing Bill of Entry or Shipping Bill practice.